Digital image seller Jupitermedia confirmed that it is engaged in active discussions to sell itself to stock photo giant Getty Images for $9.60 a share in cash – a price many investors believe could rise should a rival bidder emerge or Jupitermedia’s board pushes for more cash.

“Any potential transaction would be subject to the negotiation and execution of a definitive agreement and other related agreements on terms acceptable to Getty Images and Jupitermedia,” the Darien, Conn.-based company said in a press release yesterday. The company issued the release after a story in The Post disclosed the talks.

Jupitermedia chief Alan Meckler also confirmed he is in talks with Getty about buying the company’s JupiterWeb division. The unit includes over 150 Web sites and e-mail newsletters that are viewed by over 20 million users and the Web sites generate over 400 million page views monthly.

Jupitermedia has formed a special committee of independent board members – John Patrick, Michael Davies and Gilbert Bach – to evaluate Getty’s offer. The special committee has also retained Merrill Lynch and law firm Cooley Godward & Kronish to help them with negotiations.

Several investors in Jupitermedia said it was unusual for a company to publish a specific price without having a deal done. “It looks like this could be an opening bid,” said one analyst.

Some investors also speculated that Getty rival Corbis Corp. could emerge as a rival bidder for Jupitermedia now that confidential talks have been disclosed.

In another deal Getty agreed to buy smaller competitor MediaVast, parent company of WireImage for $200 million in cash.